Arena Pharmaceuticals, Inc. (ARNA) was a big mover last session, as the company saw its shares rise by nearly 10% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This reverses the recent trend for the company as the stock is now trading above the volatile price range of $3.90 to $4.15 since Aug 28, 2014.
The company has seen no negative revisions in the past 30 days and its Zacks Consensus Estimate remained unchanged over the same time frame. Yesterday's price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Arena Pharmaceuticals currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
Some better-ranked stocks in the biotechnology industry include Biogen Idec Inc. (BIIB), Cambrex Corporation. (CBM) and China Biologic Products, Inc. (CBPO). Each of the stocks sport a Zacks Rank #1 (Strong Buy).
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